Wolters Kluwer announces that it has committed itself to the repurchase of ordinary shares for a maximum total consideration of €50 million, by engaging a third party to execute transactions on its behalf. Repurchases will be made in the period starting January 2, 2017 up to and including February 21, 2017, ahead of the announcement of full-year 2016 results on February 22, 2017.
These share repurchases, which are part of the three-year (2016-2018) up to €600 million buyback program announced on February 24, 2016, will be used for capital reduction purposes or to meet obligations arising from share based incentive plans. The total number of shares repurchased under the €600 million buyback program through November 30, 2016 is 4.4 million shares for a total consideration of €151 million.
Any share purchases will be made within the limits of relevant laws and regulations (in particular Regulation (EU) 596/2014) and Wolters Kluwer’s Articles of Association.